Harlo Capital and its partner successfully repositioned and sold its Cornwall industrial portfolio in early July. The partnership acquired the 449,434-sf portfolio of industrial assets is situated in the strategic logistics node of Cornwall, Ontario in 2022.

Since the acquisition we focused on stabilizing the asset by reducing vacancy, attracting tenants with strong covenants and bringing traditionally low rents inline with market. Amid challenging market conditions we conducted a competitive bid process, which attracted qualified buyers and ultimately achieved a 14.15% IRR and 1.51x Equity Multiple.